While it has been recognized by those skilled in the art that amorphous metals with high saturation magnetization might be used to advantage in electrical apparatus such as distribution and power transformers, such alloys are lacking in necessary ductility and stability for this purpose. Thus, the iron-rich alloy Fe.sub.80 B.sub.20 has a 4.pi.M.sub.s of 15,700-16,100 gauss but begins to crystallize within two hours at about 340.degree. C. and is quite difficult to produce in ductile ribbon form for electrical machinery apparatus. Other amorphous alloys known heretofore have somewhat greater stability and adequate ductility for this purpose, but their saturation magnetization is too low.